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+--- Thread: Tesla Sold $272MM worth of Bitcoin (/showthread.php?tid=6151199)
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Tesla Sold $272MM worth of Bitcoin - _daniel - Apr 26, 2021
Tesla sold $272MM worth of Bitcoin after only holding for less than a quarter of a year.
![[Image: image-33-1-1200x174.png]](https://static.coindesk.com/wp-content/uploads/2021/04/image-33-1-1200x174.png)
From: https://www.coindesk.com/tesla-sold-bitcoin-in-q1-for-proceeds-of-272m
What are your thoughts?
RE: Tesla Sold $272MM worth of Bitcoin - MaxiPads889 - Apr 26, 2021
If they were only wanting to have what, 8% of their cash in crypto then it's expected they would derisk down to that amount again.
RE: Tesla Sold $272MM worth of Bitcoin - SIM-1866423 - Apr 27, 2021
![[Image: hZGPGwm.png]](https://i.imgur.com/hZGPGwm.png)
RE: Tesla Sold $272MM worth of Bitcoin - _daniel - Apr 27, 2021
(Apr 27, 2021 12:42 AM)SIM-1866423 Wrote:
I wonder why he needs to prove liquidity right before releasing earnings 🕵️
Maybe he just needed to pump the books for earnings, just like how they double charged customers accidentally
One would need to test the liquidity to sell, if they planned on selling in the future.
RE: Tesla Sold $272MM worth of Bitcoin - BaldCunt - Apr 27, 2021
Elon Musk gambles a lot of his cash and liquidities between his companies.
If one needs more fund, instead of getting more investor he just takes some earnings from the other then put it back again when profits are made.
DYOR
I heard he's looking to sell @100k - 110K, not that sure but I'm hoping it's true.
Let all the major investors ride then dump and pump again.
RE: Tesla Sold $272MM worth of Bitcoin - Forensic - Apr 27, 2021
People have too much faith in Elon Musk. This man started paypal the most cancerous service ever invented. He is out for himself only.
RE: Tesla Sold $272MM worth of Bitcoin - Jimmytwotimes - Apr 27, 2021
Elon Musk use to be alright, until he warned us all about the Dangers of AI but is ahead of AI development, don't get me started on space force,but shoot maybe now we'll get an actual pic of earth instead of cgi.
RE: Tesla Sold $272MM worth of Bitcoin - SIM-3749878 - Apr 27, 2021
Imagine being this obsessed over Elon Musk. It's like we're back to being 12 years old and hating justin bieber just because he got more pussy. It's time to grow up boys.
RE: Tesla Sold $272MM worth of Bitcoin - Jimmytwotimes - Apr 27, 2021
Elon Musk use to be alright, until he warned us all about the Dangers of AI but is ahead of AI development, don't get me started on space x, but shoot maybe now we'll get an actual pic of earth instead of cgi.
RE: Tesla Sold $272MM worth of Bitcoin - funtela - Apr 27, 2021
They're buying alt coins lol
RE: Tesla Sold $272MM worth of Bitcoin - Tommie R - Apr 27, 2021
(Apr 27, 2021 02:57 AM)BaldCunt Wrote: Elon Musk gambles a lot of his cash and liquidities between his companies.
If one needs more fund, instead of getting more investor he just takes some earnings from the other then put it back again when profits are made.
DYOR
I heard he's looking to sell @100k - 110K, not that sure but I'm hoping it's true.
Let all the major investors ride then dump and pump again.
Why the f would you hope that's true? Major investors is how Bitcoin is ever going to have a shot at becoming global..
RE: Tesla Sold $272MM worth of Bitcoin - Aeowulf - Apr 27, 2021
May have been the reason for the dip?
Either way, its fine. If its supposed to be a currency, this is going to happen.
RE: Tesla Sold $272MM worth of Bitcoin - Ace Boogie - Apr 27, 2021
Ignoring the specific example to Tesla... Institutions are here to maximize shareholder wealth or increase the profit % they can show investors. They're here to stay but they're here to make money so they're going to take profits when it's time.
Not sure if anyone was expecting them to be hodling forever or something. That's pretty unrealistic, unless every company is Microstrategy but newsflash - they aren't.
RE: Tesla Sold $272MM worth of Bitcoin - .Infinity. - Apr 27, 2021
Another way of phrasing this that gives a different perspective...
"Despite being up nearly $1 billion in profit, Tesla elects to sell only 10% of their Bitcoin holdings."
RE: Tesla Sold $272MM worth of Bitcoin - _daniel - Apr 27, 2021
(Apr 27, 2021 06:51 PM).Infinity. Wrote: Another way of phrasing this that gives a different perspective...
"Despite being up nearly $1 billion in profit, Tesla elects to sell only 10% of their Bitcoin holdings."
Of course, you can reword it, I just synthesized the Coindesk article subject.
It's interesting how people idolise/defend this action even when it goes against the "hodl" narrative